Given:
Sales #180,000
Stock 1/1 # 25,000
Purchases #110,000
Sales returns # 1000
Purchases returns # 1,500
Gross profit # 58,000
Determine the value of stock as at 31st December
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A.
#8000
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B.
#9,500
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C.
#12,500
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D.
#15,500
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JAMB 2014